La SNS signe un mémorandum d’entente avec la BADR

SNS signs memorandum of understanding with BADR

Relaunch the Ouled Moussa steel unit

The National Steel Company (SNS) signed, yesterday Monday in Algiers, a memorandum of understanding with the Bank of Agriculture and Rural Development (BADR), aimed at relaunching the steel unit of Ouled Moussa (wilaya of Boumerdès).
The memorandum of understanding was signed by the Chairman and CEO of SNS, Mr. Adel Khemane, and the Director General of BADR, Mr. Mohand Bourai, in the presence of senior executives from both parties, according to a company press release.
This memorandum aims to “unite the efforts of the two companies to complete the construction and put into service this important industrial project in Boumerdès, capable of contributing to the strengthening of national steel production, creating new jobs and promoting local steel resources”.
The signing of this memorandum marks “a new step towards an effective partnership between the industrial sector and the public financial sector, within the framework of a national vision which tends to achieve industrial and economic sovereignty and to strengthen the pivotal role of the steel industry in the process of economic development of the country”, specifies the text.
This approach also reflects “the common desire to support production projects with high added value and to contribute to the industrial growth that Algeria is experiencing, under the leadership of the President of the Republic, Mr. Abdelmadjid Tebboune,” concludes the same source.